This article will serve as an onboarding guide for new BitClout users. First, we’ll explain what BitClout is, how it differs from other platforms like Twitter, and how it will revolutionize social media through the Creator Coin system.
If you’re completely new to the platform, we’ll show you how to sign up and update your profile. Then, we’ll guide you on topics like navigating the global feed, engaging with creators and followers, and managing basic Creator Coin transactions.
Please note that this guide is focused on getting you set up on BitClout so you can build a network and become an active member of the growing community. We might tell you that purchasing your own coin can be rewarding, but we won’t be offering any financial advice on growing your BitClout wallet or sending your coin value to the moon!
What is BitClout?
The word BitClout can mean two different but related things. First, BitClout is an open source social network built using blockchain technology. BitClout is also the cryptocurrency you use on the platform to complete transactions and support other creators, mainly through purchasing their Creator Coins.
Creator Coins are another important concept unique to BitClout. Every profile has a monetary value attached to it, usually denoted in USD. This number is the value of the account’s Creator Coin. You can buy and sell Creator Coins, including your own, using BitClout, and the value of a profile’s coin generally follows the law of supply and demand.
You can read more about BitClout and Creator Coin on the documentation page put up by the platform’s founders and development team, especially if you are interested in the more technical aspects of BitClout.
On BitClout, you can post and like content, as you would on other sites like Twitter and Facebook. However, there are a couple of things that make BitClout completely different from other social networks. First, to interact with the site, you need to have some amount of BitClout currency, which you can purchase on the site and which costs either Bitcoin or one of the currencies recognized by the site (USD, CAD, etc.). Sending a private message or posting a photo of your cat, to name two examples, costs a tiny amount of BitClout.
Second, BitClout is decentralized and open-source. There is no company behind the platform. As their documentation page states, it’s all just coins and code. This is what makes BitClout such an innovative and promising platform, especially for creators like musicians, artists, and streamers.
As of this writing, BitClout.com will be the starting point for most, if not all, new users. But in the future, we expect dozens of nodes--independent websites that are also built using the BitClout blockchain--to pop up, each catering to their own community. If you compare BitClout.com to Twitter, we could soon see a Twitch of BitClout where streamers can monetize their content without a corporation receiving a cut.
How do I set up an account?
When you sign up for a BitClout account, you’ll be presented with several options.
Sign up with Seed. A seed phrase is a unique string of 12 words that grants you access to your BitClout wallet. It’s a username and password rolled into one. If you choose this signup option, It is absolutely essential that you store this seed phrase somewhere secure. If you lose it, you won’t be able to log into your account, and no one can help you recover it. We recommend storing it either offline, in a notebook, for example, or through a secure Password Manager service (like 1Password). Keeping your phrase secure is essential, because anyone who knows your seed phrase can access your account and all the funds that come with it.
When you use this signup option, you are first given your seed phrase. Once you’ve stored it in your personal files, you will be asked to verify your account by re-entering the phrase.
Log in with Google. You can also sign up for BitClout using a Google account, without ever having to worry about a seed phrase.
If you choose this option, the site will ask you to select a Google account to associate with your BitClout profile. When you do, you’ll be asked to allow bitclout.com permission to manage its files in your Google Drive. Finally, you’ll have the option to store a seed phrase in case you ever lose access to your Google account.
Your public key. After you create your account, but before you update your profile the first time, the account is represented by a string of characters, like so:
This is a public key. Even after you’ve updated your profile, you can use this key to link people to your page or analyze your account performance on tools like BitClout Pulse.
Pulse offers several free tools that can help new BitClout users understand how the Creator Coin system works. The Wallet Analyzer lets you see the coin holdings of any public key, not just your own. Pulse also publishes articles through its Research hub. You can sign up for notifications on new articles and other BitClout updates by joining Pulse’s mailing list.
Updating your profile
Once you’ve chosen how to sign up for BitClout, you should update your profile before you begin posting and interacting with other users’ content. Just like other transactions on the platform, updating your profile costs a tiny amount of BitClout currency. This might seem concerning at first, but even one cent worth of BitClout will allow you to like, post, comment, and more for a very long time.
When you log in for the first time, the site loads your account up with enough “nanos,” or fractions of currency, to update your profile and create your first few posts.
You can update your profile at any time by clicking on the “Update Profile” link near the top right corner of your personal page. Remember that you will spend BitClout each time you update your profile!
We’ll cover this in greater detail below, but it’s worth mentioning that you should keep your Founder Reward at 100% while you get used to the BitClout site.
Creator Coins and your Founder Reward
We mentioned earlier that every profile has its own asset, called Creator Coin, that any other account on BitClout can buy and sell. Some common reasons to buy an account’s Creator Coin are to support an artist’s work without helping a corporation like Patreon profit, or to gain access to a special perk only someone’s coin holders get. You can even buy your own coin to increase your profile’s value.
Whenever someone buys your Creator Coin, a percentage of what they paid is credited to your BitClout wallet. This is the Founder Reward Percentage (FR), You can set it anywhere from 0-100%. A high FR is a good signal that you don’t want people to purchase your coin. Setting a low FR, on the other hand, may signal that you’re inviting people to purchase your coin while also giving your BitClout wallet a small boost.
When you decide that you want your coin to be traded, we suggest keeping your FR at 10% or less, unless you have a specific reason to set it higher. We also emphasize the importance of keeping your FR at 100% while you get used to the site, unless you don’t mind the risk of getting priced out of buying your own Creator Coin.
How do posting and the global feed work?
The majority of a new BitClout user’s interaction with the platform will be through the site’s global feed. BitClout’s main scrolling feed shares a lot of similarities with those of other social media platforms like Twitter and Facebook. It will be more useful to discuss some key differences.
Limited discovery options. As of this writing, the site lacks features like hashtags and lists. As the community grows, we should see other sites built on the BitClout blockchain pop up that incorporate discovery features like these while preserving the core experience of bitclout.com.
Without these features that help you find people you want to engage with, your best bet is to browse the global feed for content that you like. Many of BitClout’s thought leaders, prolific artists, and investment whales can be found sharing their thoughts on the global feed. You’ll also see an assortment of inspirational quotes, memes, and anecdotes that other users have already liked or “reclouted.”
It’s a good idea to follow users who appear on the global feed, so you can build your own personalized “Following” feed.
Reclouts and Diamonds. Aside from liking a post and commenting on it, you can also Reclout posts and give them Diamonds. Reclouting and quoting are identical to Retweets on Twitter. Diamonds, on the other hand, are another BitClout innovation.
When you give a diamond to a post you enjoyed, the receiver gets a tip taken out of your Creator Coin. The amount they receive scales with the number of diamonds you give.
Diamonds are a great way to show your favorite creators support without spending BitClout on their coin. And since the profile you bestow a diamond upon receives a fraction of your own Creator Coin holdings rather than BitClout, you are essentially giving them a stake in your own future on the platform. Diamonds are an exciting and innovative way to engage with the BitClout community on a deeper level than regular likes.
Reply sorting. Unlike other social networks where replies are sorted by most recent, BitClout sorts replies by the value of a commenter’s Creator Coin. If your goal is to build a community on the site or promote your content or projects, one way to accelerate this is to purchase a significant amount of your own Creator Coin. Buying your own coin increases your profile’s value, thus getting you a higher rank in replies.
However, you should remember to do this before lowering your FR, because other users might buy your coin before you complete your transaction. Having other community members invest in you isn’t a bad thing, but it will mean that you’ll have to spend more BitClout purchasing your own coin.
In general, it’s a good idea to reply to posts on the global feed, so other users can find you in the comments and follow you if they like what they see. Between following people whose posts you like, commenting on or giving diamonds to global feed posts, and buying your own Creator Coin, you can begin to build your BitClout network and find people who are eager to invest in you.
How do I find more resources on BitClout?
Signing up for a BitClout account, updating your profile, interacting with the global feed, and trying out tools like BitClout Pulse are some of the steps we recommend completing before getting into trading Creator Coin.
BitClout also boasts a large and welcoming community beyond the main site. The BitClout Discord server has nearly 5,000 members and features round the clock discussion about intermediate to advanced topics like Creator Coin speculation, mining, running nodes. We at Pulse also hold regular live events in the server focused on onboarding and helping new users navigate the platform.
If you have any questions or feedback about this article or about BitClout in general, don’t hesitate to email our Community Manager at firstname.lastname@example.org or join our Discord community and hang out in the Newbie Help channel.